Upbit Nasdaq IPO. Photo by BeInCrypto South Korea’s biggest crypto exchange, Upbit, is now positioning for a potential Nasdaq IPO, following confirmation that tech giant Naver is preparing to acquire its parent company, Dunamu, in a landmark stock-swap merger. The move, expected to be approved at board meetings next week, would create one of Asia’s most powerful fintech–crypto conglomerates and accelerate Korea’s entry into US capital markets. Naver–Dunamu Merger Ignites Upbit’s Nasdaq IPO Reports, citi ...

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Key TakeawaysThe Kremlin has dismissed immediate prospects for US-Russia meetings and denied receiving official information from Ukraine peace talks in Geneva, signaling ongoing geopolitical friction.Germany's Ifo Business Climate Index for November unexpectedly fell to 88.1, missing estimates, while the German Finance Agency anticipates bond issuance to exceed €500 billion in 2026.JP Morgan has significantly upgraded Baidu Inc (BIDU) to Overweight and raised its price target to $188 from $110, citing stron ...

India-based magicpin and the ride-hailing company Rapido have formed a partnership to challenge the market power of Zomato and Swiggy in the country’s online food delivery sector, as reported by PTI. The collaboration will see magicpin’s nationwide network of restaurants integrated into Rapido’s food delivery platform Ownly. Ownly will gain access to more than 80,000 restaurants in India once the onboarding process is finalised. magicpin will be able to use Rapido’s delivery fleet in select locations. ...

公司业务 - 特斯拉首席执行官埃隆·马斯克指出公司也拥有AI芯片业务 [1]

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The race to develop artificial intelligence has pushed governments and technology giants to build new electricity plants and upgrade their decades-old grid networks, creating significant opportunities for Chinese power equipment companies, according to analysts. Chinese firms have been benefiting from the spillover of a US order boom, which was driven by US President Donald Trump's push for tech leaders like Meta and SoftBank to invest in AI infrastructure. "The US buys products from Japan and South Kore ...

U.S. stock futures rose ahead of Thanksgiving following last week's volatile trading, while international markets were mostly higher. ...

文章核心观点 - 文章介绍了三家在不同领域具有强大竞争优势和长期增长潜力的全球公司，分别为Waste Management、Meta Platforms和Copart [1] - 这些公司在各自细分市场占据主导地位，拥有持久的竞争壁垒，有望为长期投资者创造复合财富 [1][18] - 三家公司业务模式各异，分别为投资者提供了科技增长、必需服务和数字平台等不同特性的投资选择 [19] Waste Management (WM) - 公司是北美领先的环境解决方案提供商，拥有最大的处理网络和收集车队，其路线密度在同业中最高，有助于以更低运营成本实现废物收集最大化 [2] - 高监管许可为新垃圾填埋场运营创造了高进入壁垒，巩固了公司的监管护城河，并拓展至可再生天然气设施，将填埋气作为可再生能源销售 [3] - 通过医疗解决方案部门提供受监管的医疗废物处理，以满足因人口老龄化而增加的医疗设施产生的废物收集需求，并投资AI等自动化技术以优化车队和设施，降低成本并提高效率 [4] - 第三季度收入增至64亿美元，同比增长15%，运营EBITDA增长15%至19.7亿美元，创下30.6%的季度利润率纪录 [4][5] - GAAP运营收入降至9.89亿美元，同比下降12%，主要原因是与塑料回收设施临时闲置和垃圾填埋场关闭相关的2.02亿美元减值支出，若不考虑这些减值支出和非现金损失，运营现金流增长12%至43亿美元 [5] - 自由现金流增长33%，原因是资本支出随着公司度过投资高峰期而逐步减少，可再生商品价格暂时下跌使可回收材料销售额同比下降近35%，但该部分仅占总收入约7%，周期性风险最小且短暂 [6][7] Meta Platforms (META) - 公司的“应用家族”包含一套市场领先的社交媒体平台，巩固了其在广告领域的地位，贡献了大部分收入，而面向消费者的虚拟和增强现实体验部门“Reality Labs”收入贡献较低且仍处于亏损状态 [8] - 竞争优势基于其“应用家族”无与伦比的35亿日活跃用户基础，并通过其在广告AI领域的领导地位得到加强，公司利用高利润的广告业务和极低债务为其AI模型和AI眼镜等宏伟目标提供资金 [9] - 下一阶段增长来自Meta超智能实验室，通过将AI整合到其消费硬件和应用组合中提供个人超智能，第三季度收入飙升至512亿美元，运营收入增至205.4亿美元，分别同比增长26%和18% [10] - 尽管Reality Labs持续亏损，公司运营利润率仍保持40%的弹性，与历史范围一致，但报告净利润仅为27亿美元，同比下降83%，原因是与一项法案相关的一次性非现金税收费用159亿美元（若扣除该费用，调整后净利润为186亿美元） [10][11] - 为扩展AI计算能力而进行的激进资本支出预计将持续到2026年，可能带来短期利润率压力风险，并面临来自欧盟和美国的法律及监管阻力，但核心广告业务仍保持可靠盈利，并有能力为其成本高昂但前景广阔的长期AI野心提供资金 [11][12] Copart (CPRT) - 公司是全球在线车辆拍卖领导者，拥有专有的VB3拍卖平台和庞大的车辆存储物流网络，在11个国家拥有270个地点，每日有17.5万辆车辆待拍卖，规模无与伦比，通过连接全球买卖双方收取挂牌费、销售佣金和买家溢价获得收入 [13] - 超过80%的车辆量来自保险卖家，这些卖家在理赔过程中接收了客户的车辆，2025财年收入增长9.7%至46.5亿美元，推动运营收入增长至17亿美元（利润率36.5%），净利润增长至15.5亿美元，分别增长7.8%和13.7%，运营现金流激增22.2%至18亿美元 [14] - 公司资产负债表稳健，持有28亿美元高额现金且无未偿债务，另有20亿美元市场性证券（由无风险美国国债组成），产生额外利息收入1.789亿美元 [14][15] - 平台上买卖双方的高流动性吸引更多人进行交易，从而维持一个自我强化的增长飞轮，车辆复杂性增加导致维修成本上升，预计将推动更多车辆被拍卖，为公司业务创造长期顺风 [15] - 尽管大部分收入来自北美，但公司正拓展国际市场，面临车辆残值处理法规不一致的风险，车辆复杂性带来的维修成本上升若证明能显著降低事故率，则可能从顺风变为逆风 [16][17] 投资意义与公司特点 - 三家公司主导各自市场，这体现在长期持续的营收增长上，若剔除一次性成本和非现金损失，其利润和现金流均持续增长 [18] - Meta和Copart拥有强大的资产负债表为其扩张计划提供资金，WM通过长期合同和监管护城河享有定价权 [18] - Meta提供巨大的增长潜力，WM提供在市场下跌时更具防御性的必需服务，Copart通过数字平台提供必要的车辆残值处理服务，兼具防御性和增长特性 [19] - 投资期限为十年或更长的长期投资者可考虑将一只或多只这些股票纳入投资组合，以利用其多样化的优势 [20]

Key Points The recent slide in the price of Bitcoin has weakened the argument that it should be viewed as "digital gold." Historically, Bitcoin has tended to move in four-year cycles, punctuated by periods of boom and bust. For long-term investors with a five-year time horizon or longer, Bitcoin still makes sense as a high upside investment. 10 stocks we like better than Bitcoin › This is the year that Bitcoin (CRYPTO: BTC) was supposed to double in value. It had every possible catalyst going for ...